Central Florida: Central Florida market interest was muted last week, sources said, with prompt demand primarily concentrated in the lower Southeast.
Prices were quoted at $430/st FOB for truck-loaded DAP, unchanged from the previous report. MAP trucks were offered at a $20/st FOB premium to DAP.
U.S. Gulf: Confirmed DAP barges peaked at $437-$438/st FOB on July 10, before cooling to $433-$436/st FOB as of July 16, sources said.
The run-up was described as the culmination of ongoing supply tightness stemming from the NOLA market’s competitive disadvantage against higher-dollar offshore markets. Firming prices in the corn market also played a role, increasing end-user confidence to reenter the retail market, albeit in a limited capacity.
Traders widely assumed the NOLA market would be unable to attract through August or September. Priced out of Russian and presumably Moroccan offers, Chinese producers were also thought to have turned their attentions elsewhere.
But market players described unexpected offers last week from a Chinese vessel due in August, a 31,000 mt combined DAP and MAP cargo rumored to have been diverted from Paranaguá, Brazil. DAP sales from the vessel were quoted around $430/st FOB, while, according to one source, a 10-50-0 MAP product was called $440/st FOB.
Including Chinese DAP transactions, sources called the August and September DAP markets in a range of $430-$438/st FOB for the week. October DAP paper offers were put at $416 and $418/st FOB.
The NOLA DAP market fell in a range of $433-$438/st FOB, an increase from the previous week’s $429-$433/st FOB. Market players called MAP $435-$445/st FOB, broadening from the last reported $437-$440/st FOB range.
Eastern Cornbelt: DAP was pegged at $460-$465/st FOB in the Eastern Cornbelt, up $5-$10/st from last report, with MAP reported in the $465-$475/st FOB range in the region.
Sources reported no new sales to test the 10-34-0 market. The last prompt business remained at $560-$590/st FOB in the Eastern Cornbelt. Sources reported no fill programs out for 10-34-0 yet, but some said they expected some fill pricing after the Southwestern Fertilizer Conference.
Western Cornbelt: Fueled by a stronger NOLA barge market, DAP pricing out of regional warehouses in the Western Cornbelt had reportedly inched up to $460-$465/st FOB last week, with MAP quoted at $470-$475/st FOB in the region.
10-34-0 remained at $565-$590/st FOB for the last confirmed sales in the region, but no new prompt business was reported to test the market and nothing was confirmed in the way of a summer fill program.
Northern Plains: DAP pricing had reportedly inched up to $465/st FOB the Twin Cities, with MAP at the $470-$475/st FOB level at that location. North Dakota sources quoted rail-delivered MAP in the $499-$505/st range for tons shipped from St. Louis, Mo.
The 10-34-0 market was quoted at $444/st FOB Grand Forks, N.D., and $470/st DEL in North Dakota for limited fill ton offers at mid-month.
Great Lakes: DAP was quoted in a broad range at $460-$485/st FOB in the Great Lakes region, with the low in Wisconsin and the upper end out of Michigan warehouses. MAP was $10/st higher than DAP, where available.
10-34-0 was pegged at $585-$595/st FOB in the region for the last bit of prompt business, but that was some time ago and there was nothing new taking place to test the market. Sources in both states said they were awaiting a 10-34-0 fill program at mid-month. “There is interest in fill 10-34-0, which makes sense after we were so short last season,” said one contact.
Northeast: MAP remained at $475-$480/st FOB in the Northeast,